Phone: (323) 728 - 7700 Fax: (323) 908 - 4006
Multi- Family Loan Programs
Rates updated: February 17, 2012
*All Margins subject to change
FHA/Fannie/Freddie Programs
$750,000* +
* Margins subject to change
|
FIXED RATE |
Spread | TERM | POINTS |
|---|---|---|---|
4.12% |
3.25 |
5 years |
0.5 - 1 |
4.26% |
2.85 |
7 years |
0.5 - 1 |
| 4.46% | 2.45 | 10 years | 0.5 - 1 |
| 5.50% | - | 35/35 | 0.5 - 1 |
Fannie Mae 10 year Fixed - $3.93% - $1,000,000 minimum loan amount
Loan to Value up to 80%
Yield Maintenance Prepayment
Portfolio Hybrid
$500,000* +
|
FIXED RATE |
TERM | POINTS |
|---|---|---|
3.50% |
3 years |
0.5 - 1 |
3.50% |
5 years |
0.5 - 1 |
| 4.70% | 7 years | 0.5 - 1 |
| 4.47% | 10 years | 0.5 - 1 |
75% Loan To value
1.15 DCR
30/30
1 Point
$500,000 - $5,000,000
*250,000 - $500,000 add .50bp
70% Loan to Value - Purchase
65% Loan To Value - Refinance
1.20 DCR
30 year Fully Amortized
ADJUSTABLE
* Margins subject to change
|
|
Rate | Margin | Prepay |
| 6 Mo. Libor | 4.11% | 3.45 | 4,3,2,1 |
|
POINTS |
0.75 |
Floor: Start Rate
CAP: 1% Semi Annual - 6% lifetime
FIXED/Hybrid
1.25 DCR
30 year Fully Amortized - fixed convert to ARM
* Start rate Margin not quoted on fixed
|
|
Rate |
Margin After fixed term | Prepay |
| 3 yr. Fixed Hybrid | 4.43% | 3.15 + LIBOR | 4,3,1 |
| 5 yr. Fixed Hybrid | 4.53% | 3.15 + LIBOR | 5,4,3,2,1 |
| 7 yr. Fixed Hybrid | 5.12% | 3.15 + LIBOR | 5,5,5,4,3,2,1 |
| 10 yr. Fixed Hybrid | 5.63% | 3.15 + LIBOR | 5-5-4-4-3-3-2-2-1-1 |
|
POINTS |
0.75 |
* Fixed Rate Program Converts to Adjustable for the remaining term based on the Margin for the corresponding index
$500,000 to $5,000,000
* Margins no longer quoted on fixed
0.75 Point
|
|
3yr. Fixed (CMT) |
5yr. Fixed (CMT) |
7 yr. Fixed (CMT) |
10yr. Fixed (CMT) |
Rate |
4.00% | 4.00% | 4.25% | 5.00% |
6 Mo LIBOR after Fixed period |
2.50 | 2.50 | 2.50 | 2.50 |
|
Prepayment
Penalty |
2-1 | 3-2-1 | 4-3-2-1 | 5-4-3-2-1 |
30 year Fully Amortized Loan maximum
up to 75% Loan to Value - Purchase
up to 70% Loan to Value - Refi
Adjusts quarterly with a .5% periodic cap and life cap of 11%
1.20 Debt Coverage Ratio
Loans are Fixed for the term mentioned above, then convert to variable for the remaining term.
$250,000 - $3,500,000
30/10
ADJUSTABLE
| Index | Start Rate |
|
Floor |
Prepay |
| 12 Mo. LIBOR | 4.375% |
3.25% |
4.375% |
3,1 |
| Points: |
1.00 |
Adjusts Quarterly at .50% Cap per quarter
Annual Rate Cap Adjustment: 2.00%
Lifetime Rate Cap: 12.50%
FIXED
* Margins no longer quoted on fixed
|
|
Rate |
Prepay |
| 3 yr. Fixed | 4.50% | 3-2-1 |
| 5 yr. Fixed | 4.575% | 3-3-3-2-1 |
| 10 yr. Fixed | 5.75% | 3-3-2-2-2 |
|
POINTS |
1.00 |
75% LTV - Purchase or Refi
70% LTV Max cash out Refi
DCR: 1.25
|
FICO Range–> |
760+ |
759-740 |
739-720 |
719-700 |
699-680 |
|
$400,000 - $500,000 |
|
|
|
|
|
|
30 due in 5 |
5.44% |
5.44% |
5.94% |
6.19% |
6.44% |
|
25 due in 10 |
6.15% |
6.15% |
6.65% |
6.90% |
7.15% |
|
15 due in 15 |
5.88% |
5.88% |
6.38% |
6.63% |
6.88% |
|
$250,000 - $400,000 |
|
|
|
|
|
|
30 due in 5 |
5.59% |
5.59% |
6.09% |
6.44% |
6.69% |
|
25 due in 10 |
6.25% |
6.25% |
6.75% |
7.15% |
7.40% |
|
15 due in 15 |
5.98% |
5.98% |
6.48% |
6.88% |
7.13% |
|
$100,000 - $250,000 |
|
|
|
|
|
|
30 due in 5 |
5.94% |
5.94% |
6.44% |
6.69% |
6.94% |
|
25 due in 10 |
6.65% |
6.65% |
7.15% |
7.40% |
7.65% |
|
15 due in 15 |
6.38% |
6.38% |
6.88% |
7.13% |
7.38% |
|
|
|
|
|
|
|
LTV: 70% Owner-User 65% Investor
LOAN FORMS
Required Documentation Checklist
Checking and Savings Account Schedule
Authorization to Release Information
Financial Statement Certification
Confidential Information Statement
Rates updated: February 17, 2012